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Midwestern Farmland Values Flatten as a Hot Market Cools

As Crop Prices Fall, So Does Demand for Land

By

Jesse Newman

Updated Aug. 14, 2014 10:55 p.m. ET

Farmland values in the U.S. Midwest remained mostly stagnant in the second quarter, the latest sign of a slowdown in the market after a multiyear boom, according to Federal Reserve reports on Thursday.

The average price of farmland in the Federal Reserve Bank of St. Louis's district, which includes parts of Illinois, Indiana and Missouri, dropped 0.4% in the second quarter from the previous quarter, the bank said.